Jay-Z is adding to his vast fortune as a Manhattan court gave judgment in favor of the rapper against a perfume company that initially sued the rapper for millions in damages.
Jay-Z partnered with Parlux Fragrances in 2013 for his “Gold Jay-Z” cologne. The relationship with the parties, however, deteriorated, with Parlux suing the rapper a few years later in 2016.
Parlux had brought a $68 million lawsuit in October 2021 for damages. The company claimed that the New York rapper failed to promote the cologne in violation of their agreement, and as a result, the company suffered losses.
On Thursday, Jay-Z was awarded millions for unpaid royalties plus interest for the cologne Gold Jay-Z. The rapper appeared during the trial this week which culminated on Thursday with him being awarded the judgment.
The matter was presided over by Manhattan Supreme Court Justice Andrew Borrok, who found that Parlux owed the rapper $6.78 million in unpaid royalties, including interest.
“We’ve been awarded and will be receiving the money as we should,” Jay-Z’s lawyer Alex Spiro said.
Parlux had been sued by Jay-Z in a counterclaim after bringing the initial lawsuit worth $68 million, which the jury declined to award.
Jay-Z had countersued for $4.5 million in royalties. The case took three weeks before the jury found neither side should be liable for damages.
Parlux previously lost its appeals case in February and was found to be liable to pay the rape for royalty payments due and owing going back to 2015. The amount of royalties was in dispute leading to Judge Borrok determining the amount owed.
According to a NY Post report, Parlux has filed an appeal on justice Borrok’s ruling.
Meanwhile, as he is as leaving the courtroom, a smartly dressed Jay-Z was asked by the press if he had comments on the matter. One person could be heard asking the rapper if he had “98 problems now,” to which he laughed.
“98, I like that,” he said as he cracked a smile while walking away with his lawyers.